Introduction
Marketing is referred to as a method of communication between an organization and its customers or targeted customers with intention increasing the rate of services or products sales. It is the process of executing and planning the distribution, conception, promotion and pricing of services, goods and ideas to generate exchanges, which satisfy organizational and individual objectives. The main intention of marketing is to communicate the service or product value to the consumers. Marketing is highly valued by all growing organization and health care organization are not an exception. Healthcare practice or organization marketing is not considerably different from small business marketing in other industries (Radulescu & Cetina, 2011). It applies the same basic principles of business marketing, which are employed in other industries such as branding, communication, pricing, referral, and media among others. Just like all other industries, healthcare organization marketing is employed to increase the organization competitive advantage by increasing its market share. Thus, marketing is basically employed in a healthcare organization to enhance the growth and development of the organization and to increase its profitability (Berkowitz, 2010). This paper evaluate marketing and its effect in a healthcare provider known as Restore Health.
Direct Impact of Marketing on Restore Health Healthcare Provider
Marketing has created a number of impact in the Restore Health Healthcare Provider. One of the major impacted created by marketing in this organization is increase in its level of awareness among the surrounding regions. Restore marketing focused on increasing the number of customers seeking for their services and products. This was attained by creating awareness in the surrounding and internationally by providing information on the organization existence, the provided services and products, and the specialists available to handle different conditions based on the organization level of services (Berkowitz, 2010). This has enhanced the organization to experience constant growth of its level of customers and hence its revenue for the last three years. The organization has experienced 21753% growth for a period of three years, an achievement that has highly been attributed by effective marketing strategies. Increase in the information about the organization has attracted more and more customers for the last three years. This has assisted the organization in increasing its market share. Consequently, the organization has also experienced increase in its revenue (Restore Health, 2015).
Strategies to Determine the Organization Utilization of Products and Services
Restore Health offers specialty and personalized medicines to healthcare providers as well as their patients. It also provides various services and products that include a support groups, full-service specialty pharmacy, clinical services, as well as analytical and clinical chemistry laboratory. It seeks to offer healthcare solutions that are highly innovative personalized healthcare solutions to providers and patients. The organization has employed various strategies of measuring the utilization of its products and services (Restore Health, 2015). One of these strategies include record keeping. The organization ensures the documentation of all purchases made either through receipts or invoices. Patients information is also another strategies employed to tract services offered in the organization. This include information on the patient condition and all services provided including both clinical, laboratory and pharmaceutical services provided. Each department is also required to keep individual record of all the sales and services provided in each on daily basis. This enhances the process of tracking the utilization of the organization services and products within the organization.
The organization also has a computerized pharmacy system containing automated robotic dispensing and barcode scanning. This ensures that the organization transactions are well documented and total sales are accurately recorded immediately after each sale is completed. This way, the organization is able to keep track of all sales made, the time of the sale, the quantity and the total cost. Moreover, most healthcare providers requiring the organization pharmaceutical product place order for high scale production of personalized healthcare products. These orders are also utilized to evaluate the extent at which the organization products are utilized. The orders and patient information include the patient and the provider actual location to measure the extent to which the organization products are utilized and known in the region and the world in general. The organization pharmaceutical services focus on personalized issues and thus, the organization get the benefit of interacting with most of its product users either through their providers or directly via their patient system. This makes it easy to keep records and to use them to evaluate the extent in which the organization product and services are utilized within and outside the region (Restore Health, 2015).
To determine the growth and development of the organization, Restore Health always compare the number of sales registered in each department for the current year with sales registered in the department for the same period of time in the previous year. A similar evaluation is done for the organization total sales of products and services. This assist in measuring growth in the utilization of the organization services and products and hence, the general growth of the company. The measure can assist in measuring the effect of marketing the organization brand, products and services.
Marketing Strategies
The Health Restore organization employs a number of marketing strategies to increase its level of sales. One of the employed strategy is referral. Health Restore organization focuses on personalized production and thus, it can easily develop a unique prescription for a certain patient based on the patient condition. Its level of operation is unique from all other pharmaceutical companies that focuses on producing medical products for common conditions. Therefore, the organization receives most of its customers from physicians’ referral as well as patient referral based on their previous experience with the organization. The organization also receives more referrals for laboratory services especially in conditions that would require further research or more specialized equipment for diagnosis (Radulescu & Cetina, 2011).
The organization also employ pricing strategies to market its products and organizations. Although most pharmaceutical production are personalized, they are provided at reasonable, non-exaggerated cost. Basically, specialized treatment of a condition which may require an individual to cater for research and production cost. However, the organization does not include all that while prizing its products. In this regard, most patients with conditions that may require specialized treatment do not hesitate to visit the organization for these treatments. This has enabled the organization to receive referrals from far and wide.
The customer price knowledge is demonstrated by the reference prices which is the consumers’ known price founded on experience or due to customers effort to be educated or informed about the organization pricing based on various needs and demands. The company has maintained pricing as quality indicator by raising their prices slightly for particular special services especially new conditions that may take longer to define their prescription. Moreover, the company has also enhanced its non-monetary prices by lowering the time needed to receive the required services or products, the risk related to use of each provided product by enhancing research, testing and utilization of physician knowledge and experience in doing so. Thus, the company has enhanced its prices by reducing stress costs or efforts cost and by enhancing the process of providing the organization services (Radulescu & Cetina, 2011).
The organization has also employed communication strategies to enhance its sales of products and services. The organization has enhanced its communication by use of interactive healthcare communication where patients are provided with a chance to open an account with the organization website where they can receive any required education and advice regarding their particular condition. The organization has also used internet to inform the world of its services. This include the development of detailed website which provide information regarding all organization’s department, their role, how to contact them among other extensive information include the organization history. This enhances the growth of the organization awareness to healthcare providers and to individual patients who would wish to receive their services (Ventola, 2011).
How to Shape Buying Decision of the Consumers
The buying decision of consumers can be shaped through promotion where in the detailed information about a pharmaceutical product is provided. This should include providing information regarding why the product in question is more essential than its substitutes in the market or why the product is unique. The information may include the product legacy in handling a certain condition. The second option to shape the consumer decision is by use of the product review. This is where a product is accompanied with different positive comments from its previous users with similar condition, including cases where the condition was severe. This is mostly done in online marketing where comments or reviews are provided by consumers. This gives consumers’ confidence of using or trying the product. The third way to influence the purchase of the organization product is by including combination in which a pharmaceutical product can be used to treat a certain condition. This can also include combination of symptoms that can be cleared by a certain product in combination with another sold in the organization or not produced in the organization (Berkowitz, 2010).
Get Your Custom Paper From Professional Writers. 100% Plagiarism Free, No AI Generated Content and Good Grade Guarantee. We Have Experts In All Subjects.
Place Your Order Now